2024 Q4 Form 10-K Financial Statement
#000149315224050341 Filed on December 17, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2024 |
---|---|---|---|
Revenue | $1.000M | $18.63K | |
YoY Change | 5268.84% | -81.37% | |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | $1.886M | $5.737M | |
YoY Change | 192.85% | -51.44% | |
% of Gross Profit | |||
Depreciation & Amortization | $3.211K | $12.84K | |
YoY Change | 0.0% | -0.02% | |
% of Gross Profit | |||
Operating Expenses | $3.849M | $11.87M | |
YoY Change | 196.68% | -37.34% | |
Operating Profit | -$2.849M | -$11.85M | |
YoY Change | 122.81% | -36.95% | |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$3.002M | ||
YoY Change | 156.93% | ||
Income Tax | $158.4K | ||
% Of Pretax Income | |||
Net Earnings | -$3.161M | -$7.437M | |
YoY Change | 170.49% | -60.51% | |
Net Earnings / Revenue | -316.07% | -39929.3% | |
Basic Earnings Per Share | -$1.56 | -$11.35 | |
Diluted Earnings Per Share | -$1.56 | -$11.35 | |
COMMON SHARES | |||
Basic Shares Outstanding | 3.007M shares | 5.203M shares | 655.2K shares |
Diluted Shares Outstanding | 2.023M shares | 655.2K shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2024 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $4.862M | $100.0K | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $6.725M | $2.118M | |
YoY Change | 45.45% | -55.3% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $17.31K | $20.52K | |
YoY Change | -42.59% | -38.49% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $213.1K | $494.1K | |
YoY Change | -56.68% | 19.3% | |
Total Long-Term Assets | $456.9K | $653.1K | |
YoY Change | -36.01% | -5.52% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $6.725M | $2.118M | |
Total Long-Term Assets | $456.9K | $653.1K | |
Total Assets | $7.182M | $2.771M | |
YoY Change | 34.55% | -48.96% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.640M | $2.183M | |
YoY Change | -0.93% | -0.84% | |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.122M | $3.210M | |
YoY Change | 17.61% | -41.89% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | |||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.122M | $3.210M | |
Total Long-Term Liabilities | |||
Total Liabilities | $3.145M | $3.257M | |
YoY Change | 13.75% | -42.41% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$120.8M | -$117.7M | |
YoY Change | 8.46% | 6.75% | |
Common Stock | $300.00 | $65.00 | |
YoY Change | -2.28% | -62.86% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $4.037M | -$485.7K | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $7.182M | $2.771M | |
YoY Change | 34.55% | -48.96% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2024 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$3.161M | -$7.437M | |
YoY Change | 170.49% | -60.51% | |
Depreciation, Depletion And Amortization | $3.211K | $12.84K | |
YoY Change | 0.0% | -0.02% | |
Cash From Operating Activities | -$2.910M | -$8.608M | |
YoY Change | -5.87% | -59.67% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$12.00K | ||
YoY Change | -97.29% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $3.897M | ||
YoY Change | -81.45% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $7.622M | $6.495M | |
YoY Change | 98.56% | -69.08% | |
NET CHANGE | |||
Cash From Operating Activities | -$2.910M | -$8.608M | |
Cash From Investing Activities | -$12.00K | ||
Cash From Financing Activities | $7.622M | $6.495M | |
Net Change In Cash | $4.712M | -$2.125M | |
YoY Change | 530.68% | 172.89% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$2.910M | -$8.608M | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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ResearchAndDevelopmentExpense
|
11814690 | usd |
CY2024 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
6130845 | usd |
CY2023 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
7125732 | usd |
CY2024 | us-gaap |
Operating Expenses
OperatingExpenses
|
11868097 | usd |
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
18940422 | usd |
CY2024 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-11849471 | usd |
CY2024 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
84293 | usd |
CY2023 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-40077 | usd |
CY2024 | us-gaap |
Other Income
OtherIncome
|
4327946 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7437232 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-18832694 | usd |
CY2024 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-11.35 | |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-145.13 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-145.13 | |
CY2024 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
655240 | shares |
CY2024 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
655240 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
129760 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
129760 | shares |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2538719 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
20895958 | usd |
CY2023 | SONN |
Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
|
849 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-225980 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3976382 | usd |
CY2024 | SONN |
Stock Issued During Period Value Exercise And Modification Of Warrants
StockIssuedDuringPeriodValueExerciseAndModificationOfWarrants
|
2969901 | usd |
CY2024 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
231190 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7437232 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-18832694 | usd |
CY2024 | SONN |
Acquired Inprocess Research And Development
AcquiredInprocessResearchAndDevelopment
|
12000 | usd |
CY2023 | SONN |
Acquired Inprocess Research And Development
AcquiredInprocessResearchAndDevelopment
|
282000 | usd |
CY2024 | us-gaap |
Depreciation
Depreciation
|
12843 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
12845 | usd |
CY2024 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
70272 | usd |
CY2023 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
62905 | usd |
CY2024 | us-gaap |
Operating Expenses
OperatingExpenses
|
11868097 | usd |
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
18940422 | usd |
CY2024 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-11849471 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-18792617 | usd |
CY2024 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
84293 | usd |
CY2023 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-40077 | usd |
CY2024 | us-gaap |
Other Income
OtherIncome
|
4327946 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7437232 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-18832694 | usd |
CY2024 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-11.35 | |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-145.13 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-145.13 | |
CY2024 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
655240 | shares |
CY2024 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
655240 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
129760 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
129760 | shares |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2538719 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
20895958 | usd |
CY2023 | SONN |
Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
|
849 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
248626 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3976382 | usd |
CY2024 | SONN |
Stock Issued During Period Value Exercise And Modification Of Warrants
StockIssuedDuringPeriodValueExerciseAndModificationOfWarrants
|
2969901 | usd |
CY2024 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
231190 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7437232 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-485739 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-485739 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7437232 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-18832694 | usd |
CY2024 | SONN |
Acquired Inprocess Research And Development
AcquiredInprocessResearchAndDevelopment
|
12000 | usd |
CY2023 | SONN |
Acquired Inprocess Research And Development
AcquiredInprocessResearchAndDevelopment
|
282000 | usd |
CY2024 | us-gaap |
Depreciation
Depreciation
|
12843 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
12845 | usd |
CY2024 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
70272 | usd |
CY2023 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
62905 | usd |
CY2024 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
231190 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
248626 | usd |
CY2024 | SONN |
Financing Costs
FinancingCosts
|
370426 | usd |
CY2024 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
1732 | usd |
CY2024 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-470987 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
33653 | usd |
CY2023 | SONN |
Increase Decrease In Incentive Tax Receivable
IncreaseDecreaseInIncentiveTaxReceivable
|
69269 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
79941 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
414206 | usd |
CY2024 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
48423 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2631215 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-2241246 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
231953 | usd |
CY2024 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-18626 | usd |
CY2023 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-147805 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-73047 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-51329 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8607723 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-21341842 | usd |
CY2024 | us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
12000 | usd |
CY2024 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
231190 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
248626 | usd |
CY2024 | SONN |
Financing Costs
FinancingCosts
|
370426 | usd |
CY2024 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-470987 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
33653 | usd |
CY2024 | SONN |
Increase Decrease In Incentive Tax Receivable
IncreaseDecreaseInIncentiveTaxReceivable
|
-24496 | usd |
CY2023 | SONN |
Increase Decrease In Incentive Tax Receivable
IncreaseDecreaseInIncentiveTaxReceivable
|
69269 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
414206 | usd |
CY2024 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
48423 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2631215 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-2241246 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
231953 | usd |
CY2024 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-18626 | usd |
CY2023 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-147805 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-73047 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-51329 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8607723 | usd |
CY2024 | us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
12000 | usd |
CY2023 | us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
443250 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-443250 | usd |
CY2024 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3896577 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
21006371 | usd |
CY2024 | SONN |
Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
|
15000 | usd |
CY2024 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2983769 | usd |
CY2023 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
849 | usd |
CY2023 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
748 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6494920 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
21006472 | usd |
CY2024 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-2124803 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-778620 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2274259 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3052879 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
149456 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2274259 | usd |
CY2023 | SONN |
Deferred Offering Costs Charged Against Proceeds From Sale Of Common Stock
DeferredOfferingCostsChargedAgainstProceedsFromSaleOfCommonStock
|
32340 | usd |
CY2023 | SONN |
Deferred Offering Costs In Accounts Payable And Accrued Expenses
DeferredOfferingCostsInAccountsPayableAndAccruedExpenses
|
49988 | usd |
CY2024 | SONN |
Non Cash Net Settlement Of Warrants
NonCashNetSettlementOfWarrants
|
9 | usd |
CY2023 | SONN |
Non Cash Net Settlement Of Warrants
NonCashNetSettlementOfWarrants
|
52 | usd |
CY2024 | SONN |
Common Stock And Warrant Issuance Costs In Accounts Payable And Accrued Expenses
CommonStockAndWarrantIssuanceCostsInAccountsPayableAndAccruedExpenses
|
13868 | usd |
CY2023 | SONN |
Common Stock And Warrant Issuance Costs In Accounts Payable And Accrued Expenses
CommonStockAndWarrantIssuanceCostsInAccountsPayableAndAccruedExpenses
|
78073 | usd |
CY2024 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_806_eus-gaap--NatureOfOperations_z8CEgSIOJSSd" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_829_zTCmRwqJ8Ume">Organization and Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Description of business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet BioTherapeutics, Inc. (“Prior Sonnet”) was incorporated as a New Jersey corporation on April 6, 2015. Prior Sonnet completed a merger with publicly-held Chanticleer Holdings, Inc. (“Chanticleer”) on April 1, 2020. After the merger, Chanticleer changed its name to Sonnet BioTherapeutics Holdings, Inc. (“Sonnet” or the “Company”). Sonnet is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single or bifunctional action. Known as F<sub>H</sub>AB<sup>® </sup>(Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (“HSA”) for transport to target tissues. Sonnet designed the construct to improve drug accumulation in solid tumors, as well as to extend the duration of activity in the body. F<sub>H</sub>AB development candidates can be produced in mammalian cell culture, which enables glycosylation of the interleukins, thereby reducing the risk of immunogenicity, as well as E. coli. Sonnet believes its F<sub>H</sub>AB technology, for which it received a U.S. patent in June 2021, is a distinguishing feature of its biopharmaceutical platform. The approach is well suited for future drug development across a range of human disease areas, including in oncology, autoimmune, pathogenic, inflammatory, and hematological conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet’s lead proprietary asset, SON-1010, is a fully human version of Interleukin 12 (“IL-12”), covalently linked to the F<sub>H</sub>AB construct, for which Sonnet is pursuing clinical development in solid tumor indications, including ovarian cancer, non-small cell lung cancer and head and neck cancer. In March 2022, the FDA cleared Sonnet’s Investigational New Drug (“IND”) application for SON-1010. This allowed the Company to initiate a U.S. clinical trial (SB101) in oncology patients with solid tumors during the second calendar quarter of 2022. In September 2021, the Company created a wholly-owned Australian subsidiary, SonnetBio Pty Ltd (“Subsidiary”), for the purpose of conducting certain clinical trials. Sonnet received approval and initiated an Australian clinical study (SB102) of SON-1010 in healthy volunteers during the third calendar quarter of 2022. Interim safety and tolerability data from the SB101 and SB102 studies were reported in April 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2023, Sonnet announced a collaboration agreement with Roche for the clinical evaluation of SON-1010 with atezolizumab (Tecentriq®). The companies have entered into a Master Clinical Trial and Supply Agreement (“MCSA”), along with ancillary Quality and Safety Agreements, to study the safety and efficacy of the combination of SON-1010 and atezolizumab in a platinum-resistant ovarian cancer (“PROC”) patient setting. Further, the companies will provide SON-1010 and atezolizumab, respectively, for use in the Phase 1b/Phase 2a combination safety, dose-escalation, and proof-of-concept study (SB221). Part 1 of this 2-part study was approved in June 2023 by the local Human Research Ethics Committee in Australia under CT-2023-CTN-01399-1 and the Therapeutic Goods Administration has been notified. In August 2023, the FDA accepted the IND for SB221. The trial consists of a modified 3+3 dose-escalation design in Part 1 to establish the maximum tolerated dose (“MTD”) of SON-1010 with a fixed dose of atezolizumab. Clinical benefit in PROC will be confirmed in an expansion group to establish the recommended Phase 2 dose (“RP2D”). Part 2 of the study will then investigate SON-1010 in combination with atezolizumab, or the standard of care (“SOC”) for PROC in a randomized comparison to show proof-of-concept (“POC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of the ongoing cost-cutting efforts, all antiviral development with SON-1010 has been suspended.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company acquired the global development rights to its most advanced compound, SON-080, a fully human version of Interleukin 6 (“IL-6”), in April 2020 through its acquisition of the outstanding shares of Relief Therapeutics SA. Sonnet is advancing SON-080 in target indications of Chemotherapy-Induced Peripheral Neuropathy (“CIPN”) and Diabetic Peripheral Neuropathy (“DPN”). Sonnet received approval to initiate an ex-U.S. Phase 1b/2a study with SON-080 in CIPN during the third quarter of 2022. The Data Safety Monitoring Board (“DSMB”) overseeing the study met during the first calendar quarter of 2024 and cleared the trial to proceed to Part 2. Following the completion of the DSMB review, Sonnet announced initial safety data from the CIPN study. Pursuant to a license agreement the Company entered into with New Life Therapeutics Pte, Ltd. (“New Life”) of Singapore in May 2021, Sonnet and New Life would have been jointly responsible for developing SON-080 in DPN. The objective will be to analyze the data and to consider initiating a Phase 2 study, pending the outcome of any partnering activity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SON-1210 (IL12-FHAB-IL15), Sonnet’s lead bifunctional construct, combines F<sub>H</sub>AB with single-chain human IL-12 and human Interleukin 15 (“IL-15”). This compound is being developed for solid tumor indications, including colorectal cancer. In February 2023, Sonnet announced the successful completion of two IND-enabling toxicology studies with SON-1210 in non-human primates. Sonnet is prepared to initiate the regulatory authorization process for SON-1210, pending the outcome of any partnering activity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SON-1411 (IL18-FHAB-IL12) is a bifunctional combination of human Interleukin 18 (“IL-18”), which was modified to resist interaction with the IL-18 inhibitor binding protein, and single-chain human IL-12 for solid tumor cancers. Cell line development and process development are ongoing, with early experimental drug supply suitable for formulation and analytical method development activities. After some delays in 2023, activities will continue through 2024 with the potential to generate a drug suitable for preclinical studies and subsequent human studies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet has completed sequence confirmation for SON-3015 (anti-IL6-FHAB-anti-TGFβ). Early-stage bifunctional drug has been generated and is being stored for future use in in vivo mice studies. The Company has elected to place the SON-3015 development program on hold for expense reduction purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sonnet BioTherapeutics Holdings, Inc.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has incurred recurring losses and negative cash flows from operations since inception and it expects to generate losses from operations for the foreseeable future primarily due to research and development costs for its potential product candidates. The Company’s cash and cash equivalents at September 30, 2024 were $<span id="xdx_902_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20240930_zA4hIM1xGYv5" title="Cash and cash equivalents">0.1</span> million. This, combined with approximately $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20241106__20241209__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z0SbM9FIcyj9" title="Proceeds from sale of common stock and warrants">7.7</span> million raised through the sale of common stock and warrants in November and December 2024 (Note 10), $<span id="xdx_905_ecustom--CashRefundFromResearchAndDevelopmentTaxIncentive_pn5n6_c20241101__20241130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ztCWucr7twH8" title="Cash refund from incentive tax receivable">0.7</span> million received in November 2024 to satisfy the incentive tax receivable (Note 10) and $<span id="xdx_909_ecustom--ProceedsFromUpfrontPaymentReceived_pn5n6_c20241101__20241130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AlkemAgreementMember_zECS42wLpYoh" title="Upfront payment received">0.5</span> million received in October 2024 as an upfront payment related to the Alkem Agreement, which after tax withholdings resulted in a net payment of $<span id="xdx_909_ecustom--NetPaymentAfterTaxWithholdings_iI_pn5n6_c20241031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AlkemAgreementMember_zslR4kG1D1G9" title="Net payment after tax with holdings">0.4</span> million (Note 10), will fund the Company’s projected operations into July 2025. Substantial additional financing will be needed by the Company to fund its operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. However, substantial doubt about the Company’s ability to continue as a going concern exists. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company plans to secure additional capital in the future through equity or debt financings, partnerships, collaborations, or other sources to carry out the Company’s planned development activities. If additional capital is not available when required, the Company may need to delay or curtail its operations until such funding is received. Various internal and external factors will affect whether and when the Company’s product candidates become approved for marketing and successful commercialization. The regulatory approval and market acceptance of the Company’s product candidates, length of time and cost of developing and commercializing these product candidates and/or failure of them at any stage of the approval process will materially affect the Company’s financial condition and future operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operations since inception have consisted primarily of organizing the Company, securing financing, developing technologies through research and development and conducting preclinical studies. The Company faces risks associated with companies whose products are in development. These risks include the need for additional financing to complete its research and development, achieving its research and development objectives, defending its intellectual property rights, recruiting and retaining skilled personnel, and dependence on key members of management.</span></p> | |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
100000 | usd |
CY2023 | us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
443250 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-443250 | usd |
CY2024 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3896577 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
21006371 | usd |
CY2024 | SONN |
Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
|
15000 | usd |
CY2024 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
370426 | usd |
CY2024 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2983769 | usd |
CY2023 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
849 | usd |
CY2023 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
748 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6494920 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
21006472 | usd |
CY2024 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-2124803 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-778620 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2274259 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3052879 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
149456 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2274259 | usd |
CY2023 | SONN |
Deferred Offering Costs Charged Against Proceeds From Sale Of Common Stock
DeferredOfferingCostsChargedAgainstProceedsFromSaleOfCommonStock
|
32340 | usd |
CY2023 | SONN |
Deferred Offering Costs In Accounts Payable And Accrued Expenses
DeferredOfferingCostsInAccountsPayableAndAccruedExpenses
|
49988 | usd |
CY2024 | SONN |
Non Cash Net Settlement Of Warrants
NonCashNetSettlementOfWarrants
|
9 | usd |
CY2023 | SONN |
Non Cash Net Settlement Of Warrants
NonCashNetSettlementOfWarrants
|
52 | usd |
CY2024 | SONN |
Common Stock And Warrant Issuance Costs In Accounts Payable And Accrued Expenses
CommonStockAndWarrantIssuanceCostsInAccountsPayableAndAccruedExpenses
|
13868 | usd |
CY2023 | SONN |
Common Stock And Warrant Issuance Costs In Accounts Payable And Accrued Expenses
CommonStockAndWarrantIssuanceCostsInAccountsPayableAndAccruedExpenses
|
78073 | usd |
CY2024 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_806_eus-gaap--NatureOfOperations_z8CEgSIOJSSd" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_829_zTCmRwqJ8Ume">Organization and Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Description of business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet BioTherapeutics, Inc. (“Prior Sonnet”) was incorporated as a New Jersey corporation on April 6, 2015. Prior Sonnet completed a merger with publicly-held Chanticleer Holdings, Inc. (“Chanticleer”) on April 1, 2020. After the merger, Chanticleer changed its name to Sonnet BioTherapeutics Holdings, Inc. (“Sonnet” or the “Company”). Sonnet is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single or bifunctional action. Known as F<sub>H</sub>AB<sup>® </sup>(Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (“HSA”) for transport to target tissues. Sonnet designed the construct to improve drug accumulation in solid tumors, as well as to extend the duration of activity in the body. F<sub>H</sub>AB development candidates can be produced in mammalian cell culture, which enables glycosylation of the interleukins, thereby reducing the risk of immunogenicity, as well as E. coli. Sonnet believes its F<sub>H</sub>AB technology, for which it received a U.S. patent in June 2021, is a distinguishing feature of its biopharmaceutical platform. The approach is well suited for future drug development across a range of human disease areas, including in oncology, autoimmune, pathogenic, inflammatory, and hematological conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet’s lead proprietary asset, SON-1010, is a fully human version of Interleukin 12 (“IL-12”), covalently linked to the F<sub>H</sub>AB construct, for which Sonnet is pursuing clinical development in solid tumor indications, including ovarian cancer, non-small cell lung cancer and head and neck cancer. In March 2022, the FDA cleared Sonnet’s Investigational New Drug (“IND”) application for SON-1010. This allowed the Company to initiate a U.S. clinical trial (SB101) in oncology patients with solid tumors during the second calendar quarter of 2022. In September 2021, the Company created a wholly-owned Australian subsidiary, SonnetBio Pty Ltd (“Subsidiary”), for the purpose of conducting certain clinical trials. Sonnet received approval and initiated an Australian clinical study (SB102) of SON-1010 in healthy volunteers during the third calendar quarter of 2022. Interim safety and tolerability data from the SB101 and SB102 studies were reported in April 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2023, Sonnet announced a collaboration agreement with Roche for the clinical evaluation of SON-1010 with atezolizumab (Tecentriq®). The companies have entered into a Master Clinical Trial and Supply Agreement (“MCSA”), along with ancillary Quality and Safety Agreements, to study the safety and efficacy of the combination of SON-1010 and atezolizumab in a platinum-resistant ovarian cancer (“PROC”) patient setting. Further, the companies will provide SON-1010 and atezolizumab, respectively, for use in the Phase 1b/Phase 2a combination safety, dose-escalation, and proof-of-concept study (SB221). Part 1 of this 2-part study was approved in June 2023 by the local Human Research Ethics Committee in Australia under CT-2023-CTN-01399-1 and the Therapeutic Goods Administration has been notified. In August 2023, the FDA accepted the IND for SB221. The trial consists of a modified 3+3 dose-escalation design in Part 1 to establish the maximum tolerated dose (“MTD”) of SON-1010 with a fixed dose of atezolizumab. Clinical benefit in PROC will be confirmed in an expansion group to establish the recommended Phase 2 dose (“RP2D”). Part 2 of the study will then investigate SON-1010 in combination with atezolizumab, or the standard of care (“SOC”) for PROC in a randomized comparison to show proof-of-concept (“POC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of the ongoing cost-cutting efforts, all antiviral development with SON-1010 has been suspended.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company acquired the global development rights to its most advanced compound, SON-080, a fully human version of Interleukin 6 (“IL-6”), in April 2020 through its acquisition of the outstanding shares of Relief Therapeutics SA. Sonnet is advancing SON-080 in target indications of Chemotherapy-Induced Peripheral Neuropathy (“CIPN”) and Diabetic Peripheral Neuropathy (“DPN”). Sonnet received approval to initiate an ex-U.S. Phase 1b/2a study with SON-080 in CIPN during the third quarter of 2022. The Data Safety Monitoring Board (“DSMB”) overseeing the study met during the first calendar quarter of 2024 and cleared the trial to proceed to Part 2. Following the completion of the DSMB review, Sonnet announced initial safety data from the CIPN study. Pursuant to a license agreement the Company entered into with New Life Therapeutics Pte, Ltd. (“New Life”) of Singapore in May 2021, Sonnet and New Life would have been jointly responsible for developing SON-080 in DPN. The objective will be to analyze the data and to consider initiating a Phase 2 study, pending the outcome of any partnering activity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SON-1210 (IL12-FHAB-IL15), Sonnet’s lead bifunctional construct, combines F<sub>H</sub>AB with single-chain human IL-12 and human Interleukin 15 (“IL-15”). This compound is being developed for solid tumor indications, including colorectal cancer. In February 2023, Sonnet announced the successful completion of two IND-enabling toxicology studies with SON-1210 in non-human primates. Sonnet is prepared to initiate the regulatory authorization process for SON-1210, pending the outcome of any partnering activity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SON-1411 (IL18-FHAB-IL12) is a bifunctional combination of human Interleukin 18 (“IL-18”), which was modified to resist interaction with the IL-18 inhibitor binding protein, and single-chain human IL-12 for solid tumor cancers. Cell line development and process development are ongoing, with early experimental drug supply suitable for formulation and analytical method development activities. After some delays in 2023, activities will continue through 2024 with the potential to generate a drug suitable for preclinical studies and subsequent human studies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet has completed sequence confirmation for SON-3015 (anti-IL6-FHAB-anti-TGFβ). Early-stage bifunctional drug has been generated and is being stored for future use in in vivo mice studies. The Company has elected to place the SON-3015 development program on hold for expense reduction purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sonnet BioTherapeutics Holdings, Inc.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has incurred recurring losses and negative cash flows from operations since inception and it expects to generate losses from operations for the foreseeable future primarily due to research and development costs for its potential product candidates. The Company’s cash and cash equivalents at September 30, 2024 were $<span id="xdx_902_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20240930_zA4hIM1xGYv5" title="Cash and cash equivalents">0.1</span> million. This, combined with approximately $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20241106__20241209__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z0SbM9FIcyj9" title="Proceeds from sale of common stock and warrants">7.7</span> million raised through the sale of common stock and warrants in November and December 2024 (Note 10), $<span id="xdx_905_ecustom--CashRefundFromResearchAndDevelopmentTaxIncentive_pn5n6_c20241101__20241130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ztCWucr7twH8" title="Cash refund from incentive tax receivable">0.7</span> million received in November 2024 to satisfy the incentive tax receivable (Note 10) and $<span id="xdx_909_ecustom--ProceedsFromUpfrontPaymentReceived_pn5n6_c20241101__20241130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AlkemAgreementMember_zECS42wLpYoh" title="Upfront payment received">0.5</span> million received in October 2024 as an upfront payment related to the Alkem Agreement, which after tax withholdings resulted in a net payment of $<span id="xdx_909_ecustom--NetPaymentAfterTaxWithholdings_iI_pn5n6_c20241031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AlkemAgreementMember_zslR4kG1D1G9" title="Net payment after tax with holdings">0.4</span> million (Note 10), will fund the Company’s projected operations into July 2025. Substantial additional financing will be needed by the Company to fund its operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. However, substantial doubt about the Company’s ability to continue as a going concern exists. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company plans to secure additional capital in the future through equity or debt financings, partnerships, collaborations, or other sources to carry out the Company’s planned development activities. If additional capital is not available when required, the Company may need to delay or curtail its operations until such funding is received. Various internal and external factors will affect whether and when the Company’s product candidates become approved for marketing and successful commercialization. The regulatory approval and market acceptance of the Company’s product candidates, length of time and cost of developing and commercializing these product candidates and/or failure of them at any stage of the approval process will materially affect the Company’s financial condition and future operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operations since inception have consisted primarily of organizing the Company, securing financing, developing technologies through research and development and conducting preclinical studies. The Company faces risks associated with companies whose products are in development. These risks include the need for additional financing to complete its research and development, achieving its research and development objectives, defending its intellectual property rights, recruiting and retaining skilled personnel, and dependence on key members of management.</span></p> | |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
100000 | usd |
CY2024 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84D_eus-gaap--UseOfEstimates_z6nzoV8RLD98" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c. <span id="xdx_867_zJcukCbnF5H6">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these consolidated financial statements include the accrual of research and development expenses. Estimates and assumptions are periodically reviewed in-light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from management’s estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84D_eus-gaap--UseOfEstimates_z6nzoV8RLD98" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c. <span id="xdx_867_zJcukCbnF5H6">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these consolidated financial statements include the accrual of research and development expenses. Estimates and assumptions are periodically reviewed in-light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from management’s estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2024 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2024 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
CY2023 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
CY2024Q3 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
15000 | usd |
CY2024 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
CY2023 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
CY2024Q3 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
15000 | usd |
CY2023Q3 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
49988 | usd |
CY2023Q3 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
49988 | usd |
CY2024 | us-gaap |
Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
|
<p id="xdx_84E_eus-gaap--DerivativesReportingOfDerivativeActivity_zlfkBZGk71N" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j. <span id="xdx_860_zaC9H0xcgKLa">Derivative liability</span></b></span></p> <p style="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all features contained in financing agreements to determine if there are any embedded derivatives that require separate accounting from the underlying agreement. An embedded derivative that requires separation is accounted for as a separate asset or liability from the host agreement. The derivative asset or liability is accounted for at fair value, with changes in fair value recognized in the consolidated statement of operations. The Company determined that certain features under the ChEF Purchase Agreement (see Note 7) qualified as an embedded derivative. The derivative liability is accounted for separately from the ChEF Purchase Agreement at fair value, which has been deemed de minimus.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | |
CY2024 | us-gaap |
Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
|
<p id="xdx_84E_eus-gaap--DerivativesReportingOfDerivativeActivity_zlfkBZGk71N" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j. <span id="xdx_860_zaC9H0xcgKLa">Derivative liability</span></b></span></p> <p style="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all features contained in financing agreements to determine if there are any embedded derivatives that require separate accounting from the underlying agreement. An embedded derivative that requires separation is accounted for as a separate asset or liability from the host agreement. The derivative asset or liability is accounted for at fair value, with changes in fair value recognized in the consolidated statement of operations. The Company determined that certain features under the ChEF Purchase Agreement (see Note 7) qualified as an embedded derivative. The derivative liability is accounted for separately from the ChEF Purchase Agreement at fair value, which has been deemed de minimus.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | |
CY2024 | us-gaap |
Other Income
OtherIncome
|
4300000 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-8 reverse stock split | |
CY2024 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1183437 | shares |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
91540 | shares |
CY2024 | us-gaap |
Other Income
OtherIncome
|
4300000 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-8 reverse stock split | |
CY2024 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1183437 | shares |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
91540 | shares |
CY2024Q3 | SONN |
Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
|
149802 | usd |
CY2023Q3 | SONN |
Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
|
2091196 | usd |
CY2024Q3 | SONN |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
617545 | usd |
CY2023Q3 | SONN |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
913145 | usd |
CY2024Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
173319 | usd |
CY2023Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
224031 | usd |
CY2024Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1823 | usd |
CY2023Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2550 | usd |
CY2024Q3 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
942489 | usd |
CY2023Q3 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
3230922 | usd |
CY2024 | SONN |
Increase Decrease In Research And Development Expenses
IncreaseDecreaseInResearchAndDevelopmentExpenses
|
1000000.0 | usd |
CY2024 | SONN |
Increase Decrease In General And Administrative Expenses
IncreaseDecreaseInGeneralAndAdministrativeExpenses
|
900000 | usd |
CY2019Q4 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P36M | |
CY2024 | SONN |
Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
|
200000 | usd |
CY2024 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
200000 | usd |
CY2024 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
90837 | usd |
CY2023 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
90837 | usd |
CY2024 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
1472 | usd |
CY2023 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
5978 | usd |
CY2024 | us-gaap |
Lease Cost
LeaseCost
|
92309 | usd |
CY2023 | us-gaap |
Lease Cost
LeaseCost
|
96815 | usd |
CY2024Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y7M6D | |
CY2024Q3 | SONN |
Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
|
149802 | usd |
CY2023Q3 | SONN |
Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
|
2091196 | usd |
CY2024Q3 | SONN |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
617545 | usd |
CY2023Q3 | SONN |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
913145 | usd |
CY2024Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
173319 | usd |
CY2023Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
224031 | usd |
CY2024Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1823 | usd |
CY2023Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2550 | usd |
CY2024Q3 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
942489 | usd |
CY2023Q3 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
3230922 | usd |
CY2024 | SONN |
Increase Decrease In Research And Development Expenses
IncreaseDecreaseInResearchAndDevelopmentExpenses
|
1000000.0 | usd |
CY2024 | SONN |
Increase Decrease In General And Administrative Expenses
IncreaseDecreaseInGeneralAndAdministrativeExpenses
|
900000 | usd |
CY2019Q4 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P36M | |
CY2024 | SONN |
Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
|
200000 | usd |
CY2024 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
200000 | usd |
CY2024 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
90837 | usd |
CY2023 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
90837 | usd |
CY2024 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
1472 | usd |
CY2023 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
5978 | usd |
CY2024 | us-gaap |
Lease Cost
LeaseCost
|
92309 | usd |
CY2023 | us-gaap |
Lease Cost
LeaseCost
|
96815 | usd |
CY2024Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y7M6D | |
CY2024Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.12 | pure |
CY2024 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
93614 | usd |
CY2024Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.12 | pure |
CY2024 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
93614 | usd |
CY2023 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
79259 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
95487 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
48216 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
143703 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
12839 | usd |
CY2024Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
130864 | usd |
CY2024 | us-gaap |
Collaborative Arrangement Rights And Obligations
CollaborativeArrangementRightsAndObligations
|
New Life is also obligated to pay a non-refundable deferred license fee of an additional $1.0 million at the time of the satisfaction of certain milestones, as well as potential additional milestone payments to the Company of up to $19.0 million subject to the achievement of certain development and commercialization milestones. In addition, during the Royalty Term (as defined below), New Life is obligated to pay the Company tiered double-digit royalties ranging from 12% to 30% based on annual net sales of Products in the Exclusive Territory. The “Royalty Term” means, on a Product-by-Product and a country-by-country basis in the Exclusive Territory, the period commencing on the date of the first commercial sale (subject to certain conditions) of such Product in such country in the Exclusive Territory and continuing until New Life ceases commercialization of such Product in the DIPN Field. | |
CY2024 | SONN |
Performanceobligation
Performanceobligation
|
1000000.0 | usd |
CY2024 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
18626 | usd |
CY2023 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
100000 | usd |
CY2024Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1265972 | shares |
CY2024 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
231190 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
95487 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
48216 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
12839 | usd |
CY2024Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
130864 | usd |
CY2024 | us-gaap |
Collaborative Arrangement Rights And Obligations
CollaborativeArrangementRightsAndObligations
|
New Life is also obligated to pay a non-refundable deferred license fee of an additional $1.0 million at the time of the satisfaction of certain milestones, as well as potential additional milestone payments to the Company of up to $19.0 million subject to the achievement of certain development and commercialization milestones. In addition, during the Royalty Term (as defined below), New Life is obligated to pay the Company tiered double-digit royalties ranging from 12% to 30% based on annual net sales of Products in the Exclusive Territory. The “Royalty Term” means, on a Product-by-Product and a country-by-country basis in the Exclusive Territory, the period commencing on the date of the first commercial sale (subject to certain conditions) of such Product in such country in the Exclusive Territory and continuing until New Life ceases commercialization of such Product in the DIPN Field. | |
CY2024 | SONN |
Performanceobligation
Performanceobligation
|
1000000.0 | usd |
CY2024 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
18626 | usd |
CY2023 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
100000 | usd |
CY2024Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1265972 | shares |
CY2024 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
231190 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
248626 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-600000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
5800000 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
26754767 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
27996751 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
3129222 | usd |
CY2024Q3 | SONN |
Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
|
5791883 | usd |
CY2023Q3 | SONN |
Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
|
4692227 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
19357 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
226 | usd |
CY2024Q3 | SONN |
Deferred Tax Assets Operting Lease Liability
DeferredTaxAssetsOpertingLeaseLiability
|
36786 | usd |
CY2023Q3 | SONN |
Deferred Tax Assets Operting Lease Liability
DeferredTaxAssetsOpertingLeaseLiability
|
57319 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
26977 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
546612 | usd |
CY2024Q3 | SONN |
Deferred Tax Assets Tax Deferred Expense Section Disallowed Interest Expense
DeferredTaxAssetsTaxDeferredExpenseSectionDisallowedInterestExpense
|
761450 | usd |
CY2023Q3 | SONN |
Deferred Tax Assets Tax Deferred Expense Section Disallowed Interest Expense
DeferredTaxAssetsTaxDeferredExpenseSectionDisallowedInterestExpense
|
763172 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
36520442 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
37162982 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
36480967 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
37100582 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
39475 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
62400 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
4782 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
7954 | usd |
CY2024Q3 | SONN |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
-34693 | usd |
CY2023Q3 | SONN |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
-54446 | usd |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.058 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.071 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.083 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.308 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.046 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.051 | pure |
CY2024 | SONN |
Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
|
-0.027 | pure |
CY2023 | SONN |
Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
|
0.016 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.001 | pure |
CY2024 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-600000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
5800000 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
26754767 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
27996751 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
3129222 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
3106675 | usd |
CY2024Q3 | SONN |
Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
|
5791883 | usd |
CY2023Q3 | SONN |
Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
|
4692227 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
19357 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
226 | usd |
CY2024Q3 | SONN |
Deferred Tax Assets Operting Lease Liability
DeferredTaxAssetsOpertingLeaseLiability
|
36786 | usd |
CY2023Q3 | SONN |
Deferred Tax Assets Operting Lease Liability
DeferredTaxAssetsOpertingLeaseLiability
|
57319 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
26977 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
546612 | usd |
CY2024Q3 | SONN |
Deferred Tax Assets Tax Deferred Expense Section Disallowed Interest Expense
DeferredTaxAssetsTaxDeferredExpenseSectionDisallowedInterestExpense
|
761450 | usd |
CY2023Q3 | SONN |
Deferred Tax Assets Tax Deferred Expense Section Disallowed Interest Expense
DeferredTaxAssetsTaxDeferredExpenseSectionDisallowedInterestExpense
|
763172 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
36520442 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
36480967 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
37100582 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
39475 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
62400 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
4782 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
7954 | usd |
CY2024Q3 | SONN |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
-34693 | usd |
CY2023Q3 | SONN |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
-54446 | usd |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.058 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.071 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.083 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.308 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.046 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.051 | pure |
CY2024 | SONN |
Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
|
-0.027 | pure |
CY2023 | SONN |
Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
|
0.016 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.001 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.003 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.146 | pure |
CY2022Q3 | SONN |
Excise Tax
ExciseTax
|
0.01 | pure |
CY2024Q3 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.003 | pure |
CY2023 | SONN |
Effective Income Tax Rate Reconciliation State Net Operating Losses
EffectiveIncomeTaxRateReconciliationStateNetOperatingLosses
|
0.037 | pure |
CY2024 | SONN |
Effective Income Tax Rate Reconciliation Sale Of State Net Operating Losses And Research And Development Credits
EffectiveIncomeTaxRateReconciliationSaleOfStateNetOperatingLossesAndResearchAndDevelopmentCredits
|
0.515 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.146 | pure |
CY2022Q3 | SONN |
Excise Tax
ExciseTax
|
0.01 | pure |
CY2024Q3 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false |